Abu Dhabi DED chair expects improved sovereign ratings | GulfNews.com:
"The head of Abu Dhabi’s Department of Economic Development (DED) said he expected to see improved credit ratings for the emirate as oil prices pick up, after Moody’s Investors Service confirmed on Saturday Abu Dhabi’s ratings at Aa2, assigning a negative outlook.
Ali Majed Al Mansouri, chairman of the Abu Dhabi DED, described the Aa2 rating as excellent.
On the negative outlook assigned, he said, “I think this is a short cycle, and we’re coming out of the bottom of low oil prices. Today, Brent recorded a $48 (Dh176) level, so we’re coming out of the bottleneck."
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